Huobi Pro to Leave Japan

Currently 13.3 percent of the visitors on Huobi Pro come from Japan
27 June 2018   853

The Huobi Pro cryptocurrency exchange will suspend the service of Japanese investors in next month. This is written by Coindesk.

According to his information, the corresponding announcement was made in an e-mail, which was received by investors from Japan on Wednesday. It says that they will not be able to use the services of the exchange to exchange cryptocurrency since July 2.

In response to a request from CoinDesk, the Huobi Pro exchange confirmed this information, but did not specify how the procedure for the withdrawal of assets of Japanese traders would be organized.

Huobi Pro's decision to leave Japan is due to the fact that the company is not registered with the Financial Services Agency, which since the beginning of the year has significantly strengthened control over local sites for the exchange of cryptocurrencies. Whether the company received any notifications from the regulator is not known.

Earlier this year, Huobi Pro announced that it had entered into an agreement with SBI Virtual Currency, a licensed exchange unit of the Japanese financial conglomerate SBI Holdings. It was planned that both companies would open a joint exchange in Japan, but in March SBI Virtual Currency announced a break in relations.

According to the Alexa portal, about 13% of visitors to Huobi Pro live in Japan.

Japan May Initiate Unscheduled Exchage Check

An anonymous source told the investigation of the authorities affected the Fisco and Huobi Japan due to the alleged structural changes in the management
23 April 2019   98

The Financial Services Agency of Japan (FSA) has begun an unscheduled check of two local crypto exchange for their customer protection standards and legal compliance. It is reported by the Cointelegraph, citing Reuters Japan.

An anonymous source told reporters that the investigation of the authorities affected the Fisco and Huobi Japan exchanges. Apparently, the regulator paid close attention to these platforms due to the alleged structural changes in the management of the companies.

Note, at the end of last year, the Bitcoin exchange operator Zaif transferred the business to the investment company Fisco after the platform was hacked in the fall.

According to an anonymous informant, the FSA was also interested in anti-money laundering measures taken by the exchanges. During the test, the regulator considered them insufficient.

In February, the National Police Agency of Japan reported that money laundering with the help of cryptocurrencies increased 10 times in the country.